Lindsay (LNN) to Release Quarterly Earnings on Thursday

Lindsay (NYSE:LNN) is set to release its earnings data before the market opens on Thursday, April 4th. Analysts expect Lindsay to post earnings of $1.52 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, January 4th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.09. The firm had revenue of $161.40 million during the quarter, compared to analyst estimates of $163.44 million. Lindsay had a net margin of 10.49% and a return on equity of 15.53%. The business’s revenue was down 8.4% on a year-over-year basis. During the same period last year, the business earned $1.65 earnings per share. On average, analysts expect Lindsay to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Lindsay Price Performance

Shares of LNN opened at $114.80 on Wednesday. Lindsay has a twelve month low of $106.46 and a twelve month high of $152.23. The firm has a 50 day moving average of $122.05 and a 200 day moving average of $122.95. The company has a quick ratio of 2.37, a current ratio of 3.53 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $1.27 billion, a P/E ratio of 18.34 and a beta of 0.61.

Lindsay Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Wednesday, February 14th. Lindsay’s payout ratio is currently 22.36%.

Institutional Investors Weigh In On Lindsay

A number of institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in Lindsay by 3.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,149 shares of the industrial products company’s stock worth $285,000 after purchasing an additional 69 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Lindsay by 23.6% during the third quarter. Royal Bank of Canada now owns 514 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 98 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Lindsay by 7.6% in the first quarter. Envestnet Asset Management Inc. now owns 1,450 shares of the industrial products company’s stock valued at $219,000 after acquiring an additional 102 shares during the last quarter. Gotham Asset Management LLC boosted its stake in Lindsay by 9.0% in the first quarter. Gotham Asset Management LLC now owns 1,446 shares of the industrial products company’s stock valued at $219,000 after acquiring an additional 119 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Lindsay by 1.2% during the second quarter. UBS Asset Management Americas Inc. now owns 11,362 shares of the industrial products company’s stock worth $1,509,000 after purchasing an additional 136 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on LNN shares. TheStreet downgraded shares of Lindsay from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th. StockNews.com lowered shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, Stifel Nicolaus decreased their price objective on shares of Lindsay from $129.00 to $123.00 and set a “hold” rating on the stock in a report on Tuesday, December 19th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $136.50.

About Lindsay

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.